Email about increase in monthly payments

Hi, Not sure if this is a prank but I received an email last night purporting to be from Bulb saying that my monthly payments would be increased by £30.16 (approximately 22%) from November. The explanation given for this increase is an 18% increase in the wholesale cost of energy. Maybe someone at Bulb could confirm the authenticity of this email and if it is genuine explain why an 18% increase on wholesale costs equates to a 22% increase to customers.

Good point - mine is going up by £21.90 from £90 which is 24%. Explanation would be good…

The monthly payments aren’t changing, rather the estimated annual cost of energy divided by 12 to get the average monthly cost is going up. You’ll find on the email a PDF attached, which on page 2 shows this annual projection change. My increase is working out at 18%. Depending on the proportions of gas an electric the percentage increase could be different.

Also you may be comparing your current direct debit to the annual projection increase, thus comparing 2 different things and getting different percentages.

Listen lads ,why discuss the difference % just leave ,kick the greedy pigs in the snouts!

I understand there are many ways you can interpret the cost of energy but I would suggest the most relevant one is the amount coming out of your bank account each month even if it’s 3 months down the line. I know other energy companies have increased there prices but I don’t recall reading anything about an increase of this size but maybe I’ve missed something.

Hi @AJH0252 - the email is genuine, our prices are rising. We’ve explained why in our blogs (I’ve put the most recent one below):

As @shaun8818 has alluded to, the gas increase is higher than our electricity increase. This is due to the wholesale gas supplies rising so much. If you use more than the average amount of gas compared to electricity, then your own prices may be more than the average. Feel free to send me a direct message if you’d like me to go over yours individually.